2024 IMF/ WBG Spring Meetings : Cameroon's Efforts Applauded, More Support Promised

The 2024 session of the International Monetary Fund and World Bank Group Spring Meetings kicked off in Washington DC, USA, on Monday, April 15, within the context of a gloomy global economic environment.

The high-level Spring Meetings that shall run until Sunday, April 21, involve Central Bank Governors, Ministers of Finance and Economy, and other financial and development stakeholders; who are meeting to discuss on the current pressing issues affecting the global economy. Leading the Cameroonian delegation to these Meetings is the Minister of Finance, Louis Paul Motaze, who, together with some of the country's international partners, have been examining ways to enhance economic growth amidst the current historically weak global economy, bedecked by a protracted inflation. "You have to understand that when the Head of State sent us here, it was, first of all, to make an appraisal of all that we have been doing so far. And we have been very happy to notice that some of our partners, especially the IMF, have a very good impression about all what we are doing." – Minister Louis Paul Motaze said. Cameroon was especially appreciated for coherence, continuity and the diligence it has shown so far, in prioritizing concrete actions towards greater economic resilience, such as strengthening government finances and bolster economic prospects. The Minister added that their discussions focused on technical assistance that can be awarded to Cameroon, as far as the tax and customs sectors are concerned.
IMF Officials Satisfied 
Officials of the IMF sounded optimistic as they described the outcome of the meeting with Minister Motaze as very fruitful. "We had a very productive meeting with the Minister. We agreed on a programme of support for the next 12 to 18 months," Abdelhak S. Senhadi, the Deputy Director of the Fiscal Department at the IMF, said. From this gathering, the Minister went on to attend another meeting with the Chairman of the Development Bank of Central African (BDEAC), in collaboration with his colleagues: Finance Ministers of the other CEMAC countries. "The aim of this meeting was to see how we can participate in increasing the Capital of BDEAC. And it has been decided that BDEAC will grant a loan to all the six member States so that we can be able to buy our shares," Minister Motaze said. The Minister said the BDAC is about to increase its share capital and it is incumbent on the member States, to each, increase their share capital with the bank. 
Projects, Reforms Examined With World Bank Group
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